Prime Minister Shehbaz Sharif has directed authorities to urgently convert memoranda of understanding signed during his recent China visit into formal agreements and joint ventures. The decision aims to accelerate economic cooperation and ensure that planned business commitments move quickly into practical implementation.
According to the Prime Minister’s Office, Shehbaz Sharif chaired a review meeting in Islamabad to assess progress on outcomes from the Pakistan-China Business-to-Business conference held in Hangzhou on May 24. During the event, 207 MoUs worth approximately $7.54 billion were signed across multiple sectors.
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These agreements cover key areas such as battery energy storage systems, artificial intelligence, mobile devices, fertilizers, seeds, irrigation technology, fisheries, food processing, biotechnology, and vaccine manufacturing. As a result, officials expect wide-ranging industrial and technological cooperation between the two countries.
Furthermore, the prime minister emphasized that stronger private-sector engagement between Pakistan and China signals a new phase in bilateral economic relations. He stated that enhanced collaboration in industry, agriculture, and technology will support export growth and generate new employment opportunities.
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In addition, Shehbaz Sharif instructed officials to ensure effective implementation of cooperation between the China Academy of Agricultural Sciences and the Pakistan Agricultural Research Council. He noted that joint agricultural research and modern technology could transform Pakistan’s farming sector significantly.
The prime minister also decided to personally chair monthly review meetings to monitor progress on the MoUs and business outcomes. Meanwhile, officials reported participation of 123 Pakistani companies and 436 Chinese companies in the B2B conference, highlighting strong private-sector interest in future collaboration.